RecDoc 2023-013329 86 Renato Court

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V. "Resident' means a household legally occupying a Unit pursuant to a valid lease with Owner. W. "St. Francis" means Saint Francis Center of Redwood City, a California nonprofit public benefit corporation. X. "Term" is defined in Section 2.1 below. Y. "Unit" means one (1) of the fourteen (14) units currently located on the Property as part of the Project. Z. "Very Low Income Household' means a household with an Adjusted Income that does not exceed the qualifying limits for low income households, adjusted for Actual Household Size, as established and amended from time to time pursuant to Section 8 of the United States Housing Act of 1937, and as published by the State of California Department of Housing and Community Development. AA. "Very Low Income Resat' means a monthly rent that does not exceed one - twelfth (1/12th) of thirty percent (30%) of fifty percent (50%) of Median Income, adjusted for Assumed Household Size. ARTICLE 2. AFFORDABILITY COVENANTS Section 2.1 Term. This Agreement commences and is effective as of the date of this Agreement and, unless terminated earlier or extended by the Parties pursuant to this Agreement, ends at the earlier of: (i) fifty-five (55) years from the date that the last Unit is leased to an Extremely Low -Income Household in accordance with the terms of this Agreement as documented in writing provided to City by Owner; or (ii) seventy-five (75) years from the Effective Date. Section 2.2 Occupancy Requirements. The Units shall be occupied by Residents meeting the following income requirements: A. Extremely Law -Income Units. Fourteen (14) Units shall be rented to and occupied by or, if vacant, available for occupancy by Extremely Low -Income Households. B. Fair Housing. The Property and Improvements shall be operated at all times in compliance with the provisions of: (1) the Unruh Act; (2) the California Fair Employment and Housing Act, (3) Section 504 of the Rehabilitation Act of 1973; (4) the United States Fair Housing Act, as amended, and (5) any other applicable law or regulation (including the Americans With Disabilities Act, to the extent applicable to the Property and the Improvements). Owner agrees to indemnify, protect, hold harmless and defend (by counsel reasonably satisfactory to the City) the City, and its council members, agents, officers and employees, from all suits, actions, claims, causes of action, costs, demands, judgments and liens arising out of Owner's failure to comply with applicable legal requirements related to housing for persons with disabilities. The provisions of this subsection shall survive expiration of the Term or other termination of this Agreement and shall remain in full force and effect. AM/AGR/2022.389.02 -HARBOR VIEW PROJECT DA—AFFORDABLE HOUSING COVENANT (86 RENATO COURT) REV: 03-15-23 VR Page 4of21